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Century Aluminum (NASDAQ:CENX) used a fireside chat at the Wells Fargo Industrials and Materials Conference to frame its investment case around tight aluminum markets, U.S. and European production exposure, and a planned new smelter in Oklahoma. Timna Tanners, Building Materials and Metals and Mini
The stock market hit new highs amid a win streak. AI and metals led while Google tested support. Palo Alto jumped late on earnings.
Century Aluminum is Thursday's IBD Stock Of The Day as the largest U.S. aluminum producer is humming like rarely before thanks to Trump tariffs and fallout from the Middle East conflict. The good news has legs, which is why CENX stock continued to rise within buy range even amid a report that U.S. and Iranian negotiators see eye-to-eye on a potential 60-day ceasefire. Aluminum prices climbed 0.8% to a four-year-high $3,650 per metric ton and have climbed around 18% since the conflict began Feb. 28, according to CME Group data.
With aluminum at multi-year highs and the impact of tariffs remaining strong, domestic aluminum firms could be positioned to benefit.
Aluminum usually doesn’t get the spotlight like gold or copper, but right now the market is unusually tight. A mix of Middle East supply disruptions, shipping issues, and U.S. tariffs has pushed prices higher and given Alcoa (NYSE:AA) a massive boost. The stock is up nearly 134% over the past year and is now trading close to its highs around $70.
Iran deal doubts hit stocks Thursday, but Nvidia, Tesla were strong. CoreWeave, Rocket Lab, Cloudflare were earnings movers late. The jobs report is on deck.
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